Geode Capital Management LLC Boosts Holdings in Waystar Holding Corp. (NASDAQ:WAY)

Posted by Defense World Staff on Dec 27th, 2024

Geode Capital Management LLC grew its position in Waystar Holding Corp. (NASDAQ:WAY – Free Report) by 697.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,101,424 shares of the company’s stock after purchasing an additional 963,316 shares during the quarter. Geode Capital Management LLC owned about 0.64% of Waystar worth $30,724,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Amalgamated Bank acquired a new stake in Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co acquired a new stake in shares of Waystar during the third quarter worth $68,000. RiverPark Advisors LLC purchased a new stake in shares of Waystar during the third quarter valued at $78,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Waystar during the second quarter valued at $145,000. Finally, Stifel Financial Corp acquired a new position in shares of Waystar in the 3rd quarter valued at $204,000.

Insider Buying and Selling at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the sale, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

WAY has been the topic of several research analyst reports. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 22nd. Canaccord Genuity Group increased their price target on shares of Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America lifted their price objective on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Evercore ISI increased their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their target price on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.90.

Check Out Our Latest Report on WAY

Waystar Stock Performance

Shares of Waystar stock opened at $38.17 on Friday. The company has a 50-day simple moving average of $31.34. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a twelve month low of $20.26 and a twelve month high of $38.35.

Waystar (NASDAQ:WAY – Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million for the quarter, compared to analyst estimates of $223.82 million. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, equities analysts expect that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.